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Showing posts with label Phil Ivey. Show all posts
Showing posts with label Phil Ivey. Show all posts

Sunday, August 16, 2015

Borgata: Casino: Cards destroyed before knowing of scheme






Casino: Cards destroyed before knowing of scheme



Associated Press

August 15, 2015

A New Jersey casino destroyed playing cards involved in a lawsuit against a professional gambler it says cheated it out of $9.6 million, but only as part of its routine business practices and before it knew of the alleged scheme, according to a legal filing Friday.
The Borgata Hotel Casino & Spa responded Friday to a countersuit filed last month by professional poker player Phil Ivey and co-defendant Cheng Yin Sun, whom the casino alleges took advantage of a defect in cards made by Gemaco Inc. that enabled them to sort and arrange good cards in baccarat.
Ivey said in his countersuit that the Borgata knew the card manufacturing process didn’t produce perfectly symmetrical card backs and that the casino purposefully destroyed evidence, “eviscerating the defendants’ ability to prove the lack of any defective cards.”
The Borgata said it destroyed some of the cards in the regular course of business and before it became aware of the alleged scheme. The Borgata “admits that there were circumstances where Gemaco, Inc. playing cards were delivered in a mis-cut fashion.”
The casino claimed the technique, called edge sorting, that was used by Ivey and Sun violates New Jersey casino gambling regulations. The lawsuit claimed the cards were defective in that the pattern on the back of them was not uniform. The cards have rows of small white circles designed to look like the tops of cut diamonds, but the Borgata claims some of them were only a half diamond or a quarter of one.
The Borgata lawsuit claimed that Ivey and his companion instructed a dealer to flip cards in particular ways, depending on whether it was a desirable card in baccarat. The numbers six, seven, eight and nine are considered good cards. Bad cards would be flipped in different directions, so that after several hands of cards, the good ones were arranged in a certain manner — with the irregular side of the card facing in a specific direction — that Ivey could spot when they came out of the dealer chute.
The casino also said in its response that Ivey and Sun can’t sue because any injury they suffered was a result of their own conduct.
Ivey lost a similar lawsuit last year in Britain’s High Court by the Malaysia-based Genting Group, a major casino operator. The court agreed that the casino didn’t have to pay Ivey $12.4 million he had won through edge sorting. He denied any misconduct and said in a statement after the ruling that he believes his strategy to exploit the casino’s “failures to take proper steps to protect themselsves against a player of my ability” was a “legitimate strategy.”
Ivey has won nine World Series of Poker bracelets and is considered one of the world’s best players.

http://www.courierpostonline.com/story/news/local/south-jersey/2015/08/15/casino-cards-destroyed-knowing-scheme/31774767/


Casino says it only destroyed cards before knowing of scheme
ATLANTIC CITY, N.J. (AP) - A New Jersey casino destroyed playing cards involved in a lawsuit against a professional gambler it says cheated it out of ...

Monday, April 21, 2014

'Common knowledge' about slot machines often wrong



'Common knowledge' about slot machines often wrong


By Mark Gruetze

Published: Sunday, April 20, 2014, 9:00 p.m.Updated 14 hours ago


Here's a quick true-or-false quiz:
 
• The American Psychiatric Association recently declared that posting selfies is a mental disorder.
 
• Obamacare requires every participant to implant a microchip holding medical information and a link to the user's bank account.
 
• Oracle CEO Larry Ellison tops this year's Forbes list of “most punchable” CEOs, followed by BP's Bob Dudley, Amazon's Jeff Bezos and Rupert Murdoch of News Corp.
 
All are myths, the work of imaginative writers trying to be funny or make a point.
The danger is that they sound plausible enough that some people might take them as fact.
That sounds like a lot of the “common knowledge” about slot machines. Many gamblers, refusing to concede that machines are indeed machines, assign them superhuman powers to explain personal losing streaks and others' winning spins. Here are a few common slot myths:
Running hot or cold
It's a frequent question by players on the way to the casino floor: Are the machines hot today? Slots don't have cycles. With each spin, you have the same chance of hitting a jackpot, regardless of what the machine paid on the last spin or the last thousand spins. Each machine contains a random-number generator that constantly spews out combinations that determine the outcome of a spin. The instant you hit the spin button, the RNG locks in a combination that tells the machine whether to pay out. How the symbols line up and whether you advance to a bonus round are just entertainment for you.
That was my jackpot!
Some players wait for a big bettor to leave a machine after losing, figuring it's “due” to hit. Nope. While each machine is programmed to pay out a specific percentage of what's wagered, that's calculated for the lifetime of the slot, meaning millions of spins over years of use. What happens in an hour or two doesn't matter. Even if the newcomer hits a jackpot on the first spin after taking over the seat, the player who left can't legitimately claim “that should have been my jackpot.” The winning combination was set at the millisecond the second player pushed the button; even if the original gambler had stayed, it is highly unlikely he would have hit the button at the same instant.
The secret code
Some people swear casinos place loose machines on the aisles, while tight ones go near the restrooms. A gambling buddy used to insist that a meter sometimes visible underneath the reels revealed the machine's hit frequency. In general, players have no way of learning a machine's payout rate. The list of possible combinations and payouts is on a top-secret PARS (Paytable And Reels Strip) sheet, accessible to casino officials and regulators.
The Omniscient Machine
Some people say using a player's club card reduces the number of payoffs. Others swear the machine automatically pays less for free play than for cash. Those who refuse to use their player's cards throw good money after bad; not only are they playing against a high house advantage, they're refusing valuable comps. The points earn free play, free food, free drawings; in essence, you get back a portion of what you bet. Why give that up? The machine can't tell the difference between free-play credit and cash credits. Again, each spin is independent; you have the same chance of winning each time.
I never win
Never say never. You do win here and there, but most people put the winnings back into the machine. The occasional profitable visit gets overshadowed by a string of losses. Recognize that slots are a horrible bet; although big jackpots hit often enough to keep players hopeful, overall the house wins about 10 percent of all wagers. If slots are your gambling choice, play slowly to make your money last longer. You're better off learning games with a lower house edge, such as video poker or blackjack.


Read more: http://triblive.com/aande/gambling/5959439-74/million-machine-percent#ixzz2zX7nKGwX
Follow us: @triblive on Twitter | triblive on Facebook


About Mark Gruetze
PictureMark Gruetze 412-320-7838
Administrative Editor
Pittsburgh Tribune-Review

Mark Gruetze has been a recreational gambler for more than 30 years, focusing on blackjack, video poker and poker. He is administrative editor of the Tribune-Review.

Keith Hodan | Tribune-Review
Slot machines are the most popular form of casino gambling.



Details
Money trail
Statewide casino win for March: $284.1 million, down from $296.7 million in March 2013, the state's best month on record. Last month's total includes $67.93 million from table games and $216.21 million from slot machines.
Statewide slot payout rate since July 1: 89.9 percent; for every $100 bet, machines return an average of $89.90
High and low payout rates: 90.74 percent at Lady Luck Nemacolin; 89.19 percent at Penn National near Harrisburg
Rivers: 89.69 percent slot payout; March table-game revenue, announced last week, was $6.14 million, down from $6.74 million last year
 
Meadows: 89.94 percent; March table-game revenue $3.01 million, down from $3.32 million


Presque Isle: 89.49 percent; March table-game revenue $1.15 million, down from $1.3 million
Lady Luck Nemacolin: 90.74 percent payout; March table game revenue $496,884; not open last year
Source: Pennsylvania Gaming Control Board
Casino sues over $9.6 million baccarat win
Borgata Casino in Atlantic City claims pro poker player Phil Ivey cheated when he won $9.6 million playing baccarat on four occasions in 2012.
The lawsuit says Ivey knew of defective cards made by Gemaco Inc. in Missouri and gained an advantage over the casino when the casino used them in the game. Ivey, companion Cheng Yin Sun and Gemaco are defendants.
 
The casino says Sun asked the dealer to turn “good” cards one way and “bad” cards another as they were dealt. Because of a slight difference in the pattern on the back of the cards, Ivey could predict the value of the first card of each hand in subsequent deals, the suit says. The house normally has a 1.06 percent edge in baccarat, but the suit says the knowledge gave Ivey a 6.765 percent edge over the casino.


Read more: http://triblive.com/aande/gambling/5959439-74/million-machine-percent#ixzz2zX8ZndLp
Follow us: @triblive on Twitter | triblive on Facebook


Tuesday, May 14, 2013

Did Ivey Notice Defective Cards At Genting?



Gambling Lawsuit: Did Ivey Notice Defective Cards At London Casino En Route To Winning $12 Million?

Gambling Joint Says That Poker Pro Had Illegal Advantage


by Brian Pempus | Published: May 13, 2013



The Daily Mail reported that the casino which withheld about $12 million of Phil Ivey’s winnings at a game called punto banco thinks the pro gambler cheated — well sort of.

Genting Crockfords London said that Ivey was able to read the backs of the cards that allegedly were defective and used this to his advantage to win millions last year.

The game doesn’t involve players touching the cards. Ivey apparently would have had to ask the dealer to turn them a certain way in order to notice the spot where he could obtain the crucial information needed to beat the game, which normally has a house advantage.

Ivey was reportedly playing with a woman who has been banned from other casinos.

The defect would be the result of a manufacturing mistake, likely attributeable to high demand for cards across the casino world, according to The Daily Mail.

Punto banco is a form of baccarat, and Ivey was betting up to £150,000.

Last week, Ivey announced that he was suing the casino for his winnings, which he maintains he accumulated legitimately and without any sort of edge.

“I am deeply saddened that Crockfords has left me no alternative but to proceed with legal action, following its decision to withhold my winnings,” Ivey said in a statement. “I have much respect for Gentings, which has made this a very difficult decision for me. Over the years I have won and lost substantial sums at Crockfords and I have always honoured my commitments. At the time, I was given a receipt for my winnings but Crockfords subsequently withheld payment. I, therefore, feel I have no alternative but to take legal action.”

For a closer look at how the game might have unfolded, check out The Mail’s reporting.

http://www.cardplayer.com/poker-news/15555-gambling-lawsuit-did-phil-ivey-notice-defective-cards-at-london-casino-en-route-to-winning-12-million

Tuesday, October 9, 2012

Phil Ivey, Continued


Genting is the financial backer of the Mashpee Wampanoag Tribe in Massachusetts seeking Reservation Shopping in Taunton, a community to which the Tribe has no historical ties. 

The conduct of Genting around the globe deserves scrutiny if they refuse to pay winners. 

Phil Ivey, Poker Champion, Denied $11.7 Million Payout From Punto Banco Card Game





Poker champ Phil Ivey recently played a different card game and won $11.7 million. But did he play Crockfords casino for a sucker?
The ritzy London gambling joint is withholding the money Ivey earned there in August in a Baccarat variation called Punto Banco, the Las Vegas Review-Journalreported. Unlike poker, Punto Banco is considered a no-skill game in which the outcome is determined strictly by the deal of the cards.
And that's perhaps why suspicions have been raised. Ivey had a "remarkable" lucky streak, the Daily Mail reported.
Crockfords, owned by Malaysia-based Genting, probably wasn't complaining when Ivey quickly lost $800,000, the paper said. But then he and an unidentified gorgeous companion, whom Crockfords learned had her membership revoked by another casino, launched an impressive run over two nights.
Ivey and his companion never touched the cards, the Daily Mail wrote. The only other people present during the streak were the croupier and an inspector. Investigators interviewed employees who worked that night and pored over surveillance video. They also checked out the cards and the shoe from which they were dealt.
A Crockfords spokesman told The Huffington Post on Tuesday that the casino is sticking by its original statement that it would honor the club's privacy policy and not comment "until we have something further to report."
Lawyers for both sides are in a "tense standoff," the British tabloid wrote. And it remains unclear if Ivey is being accused of an impropriety. Lance Bradley, the editor of Bluff magazine, told ABC News that Ivey's reputation is clean.
The casino originally agreed to deposit his winnings in a bank account, but has only returned his initial $1.6 million bankroll, ABC News noted.
Ivey, 35, has won eight World Series of Poker bracelets and is "arguably the best poker player in the world," according to WSOP.com.
He also has a reputation as a high roller away from his profession. He recently accepted an undisclosed settlement of a $900,000 debt reportedly owed him by fellow pro Ram Vaswani on a golf bet. Vaswani originally refused to pay because he felt Ivey underplayed his skills but acknowledged they had reached an "arrangement."




Monday, October 8, 2012

Poker superstar Phil Ivey in dispute over $11.7 million payout






Poker superstar Phil Ivey in dispute over $11.7 million payout
Controversy seems to follow poker superstar Phil Ivey.

Crockfords, a casino in London's Mayfair, is withholding an $11.7 million payout Ivey earned in August. The casino, which is owned by Malaysia-based Genting, informed Britain gaming authorities it is investigating circumstances surrounding Ivey’s gambling.

According to media reports, Ivey won 7.3 million British pounds playing the game Punto Banco, which is a variation of baccarat. His original bankroll was 1 million British pounds, which equals $1.6 million in U.S. dollars.

Ivey reportedly asked that his winnings be transferred to his bank account. However, the casino has only returned his original wagering stake.

Crockfords informed authorities that it is withholding Ivey’s payout. A source with close knowledge of the dispute described the situation as unprecedented.

Ivey reportedly played for two nights over the August bank holiday for a total of seven hours. Suspicions intensified when it was discovered that a female companion with Ivey had a suspended membership with another Mayfair casino.

Genting investigators flew to London from Kuala Lumpur to speak to employees working on the two nights in question and to examine hours of film from surveillance cameras. The cards used and the shoe they were dealt from were also scrutinized.

Staff members, including a female croupier, were interviewed over fears of collusion.

It is unclear what, if anything, Ivey has been accused of doing. Lawyers for both sides are said to be engaged in an increasingly tense stand-off. It is not thought that police have been alerted, media reports stated.

Ivey, who is tied for fifth place among the all-time World Series of Poker individual event bracelet winners, returned to the tournament this year after staying away in 2011. Ivey was tied to the now defunct Full Tilt Poker. He said he was sitting out the tournament in protest over American players not receiving their bankrolls from the website.

Ivey cashed in seven events at this year’s tournament, reaching five final tables. Ivey has more than $5.8 million in career World Series of Poker earnings, but has earned more than double that amount in tournament poker.